Technology And The Account Receivable Factoring Process

by | Oct 14, 2021 | Accounting

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Technology has dramatically changed the way the world does business. This fact is true on a global scale as well as with a local small business. Technology is everywhere, and businesses failing to keep up with the proliferation of technology are at a definite disadvantage compared to their tech savvy competition.

We found some very interesting statistics about the use of technology in business. A survey completed by the National Small Business Association reported:

1. 70% of small businesses view technology as very important to success

2. 85% of small businesses use online ordering for purchasing business supplies

3. 83% manage their small business bank accounts online

4. 82% of small business owners maintain their own website

5. 72% pay their bills online

6. 41% use a tablet as their business device

With this information technology as a small business owner, it only makes sense to what to use an account receivable factoring company doing the same.

The Use of Technology in AR Factoring

We believe technology is a simple, effective and highly secure way to provide a very user-friendly online experience for our clients. Through the use of the right technology, we are a more efficient, streamlined and cost-effective factoring service for small businesses to use.

We have created a simple application process that can be completed online and also submitted with a simple click of a button. This same technology allows us to complete our due diligence with access to the latest in financial information and up to the minute credit analysis for each application.

In turn, we can provide 24-hour approval. Part of our service involves establishing a secure online login for you to access your account receivable factoring information. You don’t have to guess about your account; you can go online and get the most accurate information whenever you need it, 24/7 every day of the year from any appropriate internet connected device.

Our goal is to make your life easier with the use of technology in the account receivable factoring process. We can set up ACH (Automated Clearing House) account to provide fast funding on your accounts receivables, further integrating the efficiency of technology into our services.

Before consideration any company offering account receivable factoring, check into how they use technology. If they aren’t offering the latest in secure, safe and efficient software for you to use they aren’t keeping up with the times.

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